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Do you have to put down a personal guarantee when you apply for small business credit cards?
Wiki User
∙ 12y ago
Yes you usually have to put down a personal guarantee when you apply for small buiness credit cards. This way they know you will pay back your money and it makes you less of a liability.
Wiki User
∙ 12y ago
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Which credit card companies offer credit with no personal guarantee?
It is possible to get Visa and MasterCard business credit cards from several companies without a personal guarantee - the issue isn't so much which credit card companies offer them - the problem is that no one will give them to you if you don't have a robust business credit profile built up. What confuses people is that every business credit application they see contains a section for a personal guarantee and space to write down the personal guarantor's social security number. However, just because an application has that section doesn't mean it is required to be filled in. The applications that also contain text stating that you must have a personal guarantor are generally the only ones that you can't get without a personal guarantee. Once your business credit is solidly built up, you can successfully apply for business credit cards and simply leave the personal guarantee section blank. When they run your Dun & Bradstreet and Experian Business credit report, if you have substantial business credit and a profile that has been built properly, your application will be approved - based only on your business credit with no personal guarantee. In order to build your business credit up to where you will qualify for business credit cards, you will want to get approximately 15 business credit accounts (most of them revolving accounts), a full Dun & Bradstreet and Experian profile built, you'll want to get into the ratings system, and you'll need at least three revolving accounts with high credit limits. Obviously, you will also need to have paid your business bills on time and have close to an 80 Paydex score.
Who is Initial Underwriting Group?
Initial Underwriting Group helps small businesses build business credit. They use the concept of personal credit and apply it to the building of business credit at Dun & Bradstreet. Information about initial underwriting was found on: http://www.initialunderwriting.org/personalvsbusinessloan1.HTML Initial Underwriting Groups can also help businesses get lines of credit without using a personal guarantee.
Where can one apply for a business visa credit card?
You can apply online for a business visa credit card from the Visa website. It allows you to have separate business and personal expenses as well as regular savings on business products.
What happens to your personal credit if you apply for a business credit card right after you buy a house?
If you have good credit then you should have no problem. As long as YOU know you can meet the mortgage payments and be responsible for paying off your credit card most credit card companies are more than happy to accommodate you. Also, be careful with applying with personal guaranteed business cards. Just because they are for business use you will still be responsible for it. Thus, that is still like any other personal credit card which you have decided to use for the business. A true business credit card is the one that does not take your social into consideration, or at the most it asks you to personally guarantee the debt.
How can one apply for a Conoco Credit Card?
One can apply for a Conoco Credit Card by going to the official Conoco website. There one can apply online for their credit cards including personal cards and business cards.
Which credit card companies offer credit with no personal guarantee?
It is possible to get Visa and MasterCard business credit cards from several companies without a personal guarantee - the issue isn't so much which credit card companies offer them - the problem is that no one will give them to you if you don't have a robust business credit profile built up. What confuses people is that every business credit application they see contains a section for a personal guarantee and space to write down the personal guarantor's social security number. However, just because an application has that section doesn't mean it is required to be filled in. The applications that also contain text stating that you must have a personal guarantor are generally the only ones that you can't get without a personal guarantee. Once your business credit is solidly built up, you can successfully apply for business credit cards and simply leave the personal guarantee section blank. When they run your Dun & Bradstreet and Experian Business credit report, if you have substantial business credit and a profile that has been built properly, your application will be approved - based only on your business credit with no personal guarantee. In order to build your business credit up to where you will qualify for business credit cards, you will want to get approximately 15 business credit accounts (most of them revolving accounts), a full Dun & Bradstreet and Experian profile built, you'll want to get into the ratings system, and you'll need at least three revolving accounts with high credit limits. Obviously, you will also need to have paid your business bills on time and have close to an 80 Paydex score.
Who is Initial Underwriting Group?
Initial Underwriting Group helps small businesses build business credit. They use the concept of personal credit and apply it to the building of business credit at Dun & Bradstreet. Information about initial underwriting was found on: http://www.initialunderwriting.org/personalvsbusinessloan1.HTML Initial Underwriting Groups can also help businesses get lines of credit without using a personal guarantee.
Where can one apply for a business visa credit card?
You can apply online for a business visa credit card from the Visa website. It allows you to have separate business and personal expenses as well as regular savings on business products.
What happens to your personal credit if you apply for a business credit card right after you buy a house?
If you have good credit then you should have no problem. As long as YOU know you can meet the mortgage payments and be responsible for paying off your credit card most credit card companies are more than happy to accommodate you. Also, be careful with applying with personal guaranteed business cards. Just because they are for business use you will still be responsible for it. Thus, that is still like any other personal credit card which you have decided to use for the business. A true business credit card is the one that does not take your social into consideration, or at the most it asks you to personally guarantee the debt.
How can one apply for a Conoco Credit Card?
One can apply for a Conoco Credit Card by going to the official Conoco website. There one can apply online for their credit cards including personal cards and business cards.
How do you obtain business credit file credit score and stay away from personal credit?
You will have to file a corporation, or LLC. Apply for a credit card with that particular EIN, and go from there. This is generally different than your personal.
How does one apply for a Shell Credit Card?
There are two different options to apply for a Shell credit card. First, you must choose between a business or personal card, then you can apply online or by phone for a Shell credit card.
Where can one find business loans for bad credit?
If one is looking to apply for a business loan with bad credit, one must first consider if the need for a loan outweighs the lack of good credit. "Online Check" totes a "guarantee fast business loans," even with bad credit.
Where might one go to apply for Barclay credit cards?
To apply for Barclays credit cards one might go the official Barclays website. One can apply for business or personal credit cards. One can also apply through the CreditCards' website.
How do you get approved for line of credit?
There are personal and business lines of credit. If personal, they are often secured by the equity in your home. Find a local bank or credit union that offers home equity lines of credit and apply. They'll be happy to answer your questions. If it is a business line of credit, talk to the business lenders at your bank. Some credit unions also offer business loans. The approval will be based on your credit history, income level and assets available to secure the loan. In the United States, you must be 18 to apply for a loan.
How do you get your business to have credit?
Go to a bank with all of your official business documents and apply for a line of credit. They will base their decsions upon the soundness of your business plan, any possible collateral of the business or your own and the your personal and business history. The link mentioned below has few more ideas.
Is it possible to get a bad credit business loan in Anchorage, Alaska?
Right now in todays economy it is hard to get a loan if you even have a blemish on your credit. However, If you apply for a EIN #, you get a tax number that establishes your business. They will take your personal credit into consideration as well.
